A law to provide for the management of funds allocated to the Oyo State House of Assembly from the state’s coffers passed its second reading in the house yesterday.
The bill has now been referred to the Oyo State House Committee on Public Accounts and Appropriation for further deliberations.
If the bill is ratified, the House of Assembly will manage its capital and recurrent expenditure in accordance with the provisions of Nigeria’s Constitution as amended. According to the terms of the bill, it will ensure accountability, transparency and the efficient utilization of the funds.
The bill was sponsored by the Oyo State House of Assembly Speaker, Honorable Adebo Ogundoyin and eight other lawmakers. The bill will also have repercussions nationwide as State Assemblies across the nation prepare to become financially autonomous.
The Oyo State Speaker said that the bill is aimed at ensuring the proper management of income and expenditure of State Legislatures across the country and said that the bill is currently being deliberated on in all 36 States house of assemblies across the country.
He also gave assurances that the bill will be thoroughly deliberated on to ensure that the proper legal support and framework is given to the finances of the House of Assembly.
The Deputy Speaker of the State House of Assembly also said that the bill will finally ensure that the Legislature finally attains financial freedom from the Executive arm of Government.
The other lawmakers present, including the Majority Leader, Hon Sanjo Adedoyin, Hon Kazeem Isiaka Tunde (Oyo East/West), Hon Wumi Oladeji (Ogbomoso North) and Hon Babatunde Adeola, (Iseyin/Itesiwaju) called for thorough scrutiny of the bill.
They stated further that there should be no ambiguity in the bill as it is meant to guarantee the rule of law and solidify the separation of power in Nigeria.